Essential Report

The economy

Jul 4, 2011

Q. Over the next 12 months do you think economic conditions in Australia will get better, get worse or stay much the same?

1 Dec 08 15 Jun 09 5 Oct 09 18 Jan 10 29 Mar 10 28 Jun 10 18 Oct 10 4 April 11 4 Jul 11 Vote Labor Vote Lib/Nat Vote Greens
Total better 21% 43% 66% 53% 54% 33% 40% 27% 22% 37% 15% 34%
Total worse 61% 37% 15% 19% 19% 31% 30% 37% 49% 28% 65% 34%
Get a lot better 2% 5% 8% 9% 9% 5% 6% 4% 3% 8% 1% 1%
Get a little better 19% 38% 58% 44% 45% 28% 34% 23% 19% 29% 14% 33%
Get a little worse 45% 28% 11% 14% 13% 23% 20% 27% 31% 22% 37% 26%
Get a lot worse 16% 9% 4% 5% 6% 8% 10% 10% 18% 6% 28% 8%
Stay much the same 13% 17% 15% 24% 22% 30% 24% 27% 25% 33% 18% 29%
No opinion 5% 3% 4% 4% 6% 7% 6% 8% 4% 3% 2% 3%

Optimism about Australia’s economic outlook has declined again in the last 3 months. 22% think economic conditions in Australia will get better over the next 12 months and 49% think they will get worse – a net decline of 17% since this question was last asked in April. This is the most negative result recorded since December 2008.

Younger people are more optimistic than older people – of those aged under 35, 29% think conditions will get better and 42% worse – for those aged 55+, only 15% think it will get better and 58% worse.

37% of Labor voters think conditions will get better and 28% worse while 15% of Coalition voters think conditions will get better and 65% worse.

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